Shares of Akoustis Technologies Inc (NASDAQ:AKTS) rose 5.2% on Tuesday . The stock traded as high as $6.00 and last traded at $5.85, approximately 370,749 shares traded hands during mid-day trading. A decline of 2% from the average daily volume of 376,987 shares. The stock had previously closed at $5.56.

AKTS has been the subject of several recent analyst reports. Craig Hallum restated a “buy” rating and issued a $12.00 price target (up previously from $10.00) on shares of Akoustis Technologies in a research note on Monday, May 13th. Zacks Investment Research upgraded Akoustis Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Northland Securities upgraded Akoustis Technologies from a “market perform” rating to an “outperform” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Akoustis Technologies has an average rating of “Buy” and a consensus target price of $10.17.

The company has a quick ratio of 12.72, a current ratio of 12.78 and a debt-to-equity ratio of 0.64. The stock’s 50-day simple moving average is $5.76.

Akoustis Technologies (NASDAQ:AKTS) last posted its quarterly earnings data on Friday, May 10th. The technology company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03). The firm had revenue of $0.24 million for the quarter, compared to analysts’ expectations of $0.67 million. Akoustis Technologies had a negative net margin of 2,879.43% and a negative return on equity of 128.55%. On average, analysts expect that Akoustis Technologies Inc will post -1.13 earnings per share for the current fiscal year.

In related news, Director Steven Denbaars sold 7,000 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $5.63, for a total transaction of $39,410.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey B. Shealy sold 7,500 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $5.85, for a total value of $43,875.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,900 shares of company stock valued at $131,640. 22.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of AKTS. BlackRock Inc. increased its position in Akoustis Technologies by 979.0% in the second quarter. BlackRock Inc. now owns 1,638,142 shares of the technology company’s stock worth $10,484,000 after buying an additional 1,486,322 shares in the last quarter. Blackcrane Capital LLC purchased a new stake in Akoustis Technologies in the second quarter worth about $4,440,000. FNY Investment Advisers LLC increased its position in Akoustis Technologies by 157.8% in the second quarter. FNY Investment Advisers LLC now owns 202,957 shares of the technology company’s stock worth $1,298,000 after buying an additional 124,218 shares in the last quarter. Geode Capital Management LLC increased its position in Akoustis Technologies by 123.7% in the fourth quarter. Geode Capital Management LLC now owns 171,869 shares of the technology company’s stock worth $854,000 after buying an additional 95,038 shares in the last quarter. Finally, Laurion Capital Management LP increased its position in Akoustis Technologies by 121.7% in the first quarter. Laurion Capital Management LP now owns 132,038 shares of the technology company’s stock worth $767,000 after buying an additional 72,479 shares in the last quarter. Institutional investors and hedge funds own 23.30% of the company’s stock.

Akoustis Technologies Company Profile (NASDAQ:AKTS)

Akoustis Technologies, Inc, through its subsidiary, Akoustis, Inc, develops, designs, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industries in the United States. The company operates through two segments, Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment provides engineering review services; and smart systems technology and commercialization center foundry, as well as manufacturing and microelectromechanical systems foundry services.

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